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AFRICANGLOBE - The second largest country in Africa, Democratic Republic of Congo is blessed with oil, timber, diamonds and gold but cursed with violence, instability, graft and poverty. Here are five facts about DRC following the outcome of talks to defuse its latest crisis:
AFRICANGLOBE - Conservation researcher Hazel Chapman tells us about the alarming pace of woodland destruction in Nigeria and elsewhere in West Africa — fueled by a highly valued tree species. The rampant logging of Rosewood (Pterocarpus erinaceus) — a valuable timber used for luxury furniture — is devastating woodlands in Nigeria and beyond in West Africa. And where is the Rosewood going? To China, of course, the world’s biggest timber importer.
AFRICANGLOBE - Why are African governments removing their people from their land and leasing it to foreign owned companies? Why are we not standing up against our own governments, who even take water rights away from small African farmers to give them to foreign multinationals.
AFRICANGLOBE - Recent statistics show that the Africa Rising narrative is not dependent on oil nor does it depend on mining. In a recent article, ‘The Economist,’ argued that the effects of the resource curse is waning. Here is how Africa is ending the curse:
AFRICANGLOBE - Zimbabwean President Robert Mugabe on Sunday urged southern Africa to reduce its dependence on foreign aid and to make better use of its natural resources such as minerals and land. President Mugabe was speaking at the opening of a two-day summit of the 15-member Southern African Development Community in Zimbabwe's Victoria Falls tourist resort.
AFRICANGLOBE - Africans across the continent complain about the “Chinese propensity for bribery and corruption, for shoddy goods and for cutting corners,” according to French. This is often evident in construction projects, where roads and buildings quickly become dilapidated. Because they consistently underbid all competitors, provide financing and are adept at the art of greasing palms, however, Chinese firms own the infrastructure sector, a major conduit for migrants working on such projects eager to escape grim prospects back home.
AFRICANGLOBE - With the African continent home to the majority of the world’s fastest-growing economies, urban consumer markets and a wealth of natural resources, it’s perhaps not surprising that some of the world’s largest corporations, from Monsanto to Unilever, are rushing to get a slice of the action. The good news is that, as in the struggles for independence, Africans are not taking this corporate colonialism lying down.
AFRICANGLOBE - Zimbabweans will be poor for centuries if they repeat the mistake of letting foreigners own the country’s natural resources, President Mugabe has said. The President noted that political independence without economic freedom is hollow.
AFRICANGLOBE - In a significant early victory in the battle for local beneficiation of natural resources, De Beers held its first diamond sale on 11 November in Gaborone, Botswana, after ending the sales operations of its London-based Diamond Trading Company.
AFRICANGLOBE - Commentators on African economies still insist that the continent's future lies in the export of commodities; that Africa should continue to export almost all they produce, without adding value, and import virtually all that the people living on the continent consume.
According to the Economic Report on Africa (ERA) 2013, Africa’s growth has been commodity-driven. Recent gas and oil discoveries are poised to generate significant revenue flows in coming years.This represents a unique opportunity for the continent to convert its resources into bankable investments that can lift millions of citizens out of poverty.
This imperial competition for Africa's resources has, of late, been interfaced with the threat of illegal regime change. Africa is at crossroads; either we allow our erstwhile oppressors unfettered access to our natural resources and, thus, face the wrath of this great continent's future generations, or we wrestle the nettle and take full charge of the exploitation of our natural resources
AFRICANGLOBE - Africa's wealthiest man Alhaji Aliko Dangote is set to build an important oil refinery in Nigeria to help utilise the country’s natural resources. The West African country is oil rich, yet due to the lack of infrastructure it only contributes to 2.7 per cent of the world’s total oil supply.
AFRICANGLOBE - The governments of countries that produce natural resources are now trying to find a solution to the booms and busts of the commodity cycle. Over the past few years a handful of countries have set up new Sovereign Wealth Funds to invest assets and earn revenue for future generations.
Whether Africa will ever benefit from its natural resources is a question that is more relevant now than ever, as new discoveries of coal,...
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